• 🤝🏼 People Moves: Another Jager Vet Joins Ghost Tequila
• ❌ Seedlip Founder Launches NA Venture Studio
• 🎄 BLK & Bold and Canteen Release Charity Recipe Book

After announcing it would drop its flailing sports drink brand BioSteel earlier this summer, Canopy Growth announced Friday it has found two buyers for the brand’s assets through a court-approved agreement. Financial terms were not disclosed.

The BioSteel Canada business – which includes IP, formulas and the bulk of its inventory – is set to be acquired by DC Holdings Ltd., a Canadian sports nutrition portfolio company which does business as Coachwood Group of Companies.

Meanwhile, Biosteel’s manufacturing assets, including property and equipment from the Verona, Virginia production facility it bought from Flow Water last year, have agreed to be purchased by New Jersey-based Gregory Packaging Inc., producers of SunCup juice.

The purchase is exclusively for “factory and machinery assets” from the Virginia facility and will not own any part of the BioSteel brand itself, according to Gregory Packaging owner Ned Gregory.

BioSteel had been a highly touted piece of Canopy Growth’s portfolio, at one point drawing comparisons to an early stage BodyArmor from analysts, but the business was derailed this year after the U.S. Securities and Exchange Commission investigated the company for overstating sales and an internal review led to the exit of key executives.

BioSteel’s lagging sales had also been a drag on Canopy’s overall business. Canopy CFO Judy Hong said in a press release that its decision to stop funding BioSteel led to an immediate elimination of significant operating loss and cash burn. Anticipated proceeds from the sale are expected to provide a boost to Canopy’s balance sheet.

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👻 Following the appointment of one former Mast-Jägermeister executive as CEO in April, Ghost Tequila has brought on another veteran of the herbal liqueur brand to run its marketing operations. 

New CMO Chris Peddy said he will be focused on the growth potential of the spicy tequila brand through the core margarita occasion, and the new segments and occasions where spicy is on trend. 

🐺 Meanwhile, Wolves, the luxury whiskey brand founded by two sneaker luminaries, has brought on an executive with experience at AMASS and Pernod Ricard as its new president. 

Wolves has been primarily direct-to-consumer, gaining a cult following for its releases while partnering on exclusive bottlings for The Peninsula Beverly Hills Hotel, motorsports gathering The Quail, and Rolls Royce. 

Now, the new president Jennifer Marks will build on that brand tenor by expanding distribution, and offering a more accessible flagship release — all with the goal of making a mark (pardon the pun) in the American single malt category. 

Read the full story on BevNET

Seedlip founder Ben Branson is doubling down on non-alcoholic beverages with his latest business, Pollen Projects, a new U.K.-based venture studio dedicated to supporting NA brands.

1️⃣ The studio’s first launch is a zero-proof cocktail bitters brand called Seasn, available in Light and Dark varieties, which can be used for both hard and soft drinks.

👋🏼 At Pollen Projects, Branson is working alongside COO Emma Wykes (formerly COO of Seedlip) and founding partner Dan Hatton, former global ventures director for Diageo.

🗣️ “I want the world to drink better and this means exploring the entire ecosystem of the moderation movement, not just the next need for distinct, delicious and high-quality products,” Branson told The Spirits Business this month. WithCo has also been busy landing a distribution partnership with Sprouts.

Rock stars who don’t drink? The zero-proof movement is claiming new adherents every day, the latest being a couple of well known artists: French EDM DJ/producer David Guetta is teaming with Australian non-alcoholic spirits company Lyre’s while country music star Dierks Bentley has partnered with WithCo Beverage Company. 

🥂 Terms of the respective deals were not disclosed but it appears that Guetta and Bentley will help bring more brand awareness to the NA spirits company and mixer maker. Both announcements talked about the inclusivity that these partnerships bring to the brand and the NA community as a whole.

🥳 As part of the Lyre’s announcement, the brand is offering a free bottle of its Classico Grande NA sparkling wine with the purchase of any 700 ml bottle on Amazon. The NA brand has had a busy summer announcing the raise of $22.9 million in July and then appointing former CMO Paul Gloster as its new CEO.

The holiday season is a popular time for new recipes and cookbooks to hit the market. This year, mission-driven coffee brand BLK & Bold, in partnership with retail vending company Canteen, is joining in on the tradition while bringing along its focus on supporting children-in-need.

☕ BLK & Bold and Canteen have released Recipes for Impact, a 76-page book featuring over 30 barista recipes for coffee drinks like a French Vanilla Mocha and a Banana Nut Blondie.

💰 The book launch is entirely not-for-profit and 100% of proceeds go to supporting BLK & Bold’s For Our Youth program, which donates to numerous nonprofits across the country.

📖 Physical hardcover copies of the book can be purchased online through Canteen’s website, currently on sale for $10 with a standard price of $19.99. A Kindle ebook edition is available via Amazon for $11.99.